Watch the theft take place!
How secure is your artwork on loan? Is it really “insured”?
Police are investigating the theft of a Banksy print from an exhibit curated by the artist’s former manager. The Art of Banksy exhibit – curated by his former manager Steve Lazarides, but reportedly not endorsed by the artist – opened in a Toronto industrial building dressed up as an art gallery, as part of a larger North American run.
Every dealer’s insurance policy is unique, all have exclusion, conditions and limits. some have handling warranties, alarm warranties, unpacking warranties, storage warranties. Many have very high deductibles, and no transit coverage. Most have exclusions for water damage, vandalism, mold, fire and theft. My advice to the collector is DO NOT Trust the gallery’s or anybody’s insurance coverage.
Buy your own policy, know your coverages and know that if anything does happen, the decision how to handle the loss is with you and most importantly, the check is made directly to you!
When loaning art for display, be sure to have the proper coverage. ArtInsuranceNow.com policies are tailored to cover works of art while on or off premises, in transit, storage, in exhibition, in a museum, auction house, and worldwide.
Call us at 800.921.1008 and visit ArtInsuranceNow.com to learn more and get a free quote by clicking below.